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Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013) clauses has begun, and the subcommittee has just had its third meeting.
BIMCO has established a subcommittee to review the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013). Generally, charter parties contain war clauses which are also known as “War Risk Clauses” and from time to time also the war cancellation clause is included. It is important that these clauses reflect the nature of modern conflicts, and the subcommittee has started discussing this topic and whether amendments are needed to update the clauses.
At its first meeting, the subcommittee discussed the scope and objectives of the project. The general experience is that the clauses are applied unamended and that they work well since the last revision of the clause. During the last revision of CONWARTIME 2013 and VOYWAR 2013, changes in case law in particular the “Triton Lark”, the development in trading practices and the experience on demands for specialist cover brought a need to adjust the definitions of the clause. Now, about 10 years later since the last revision, and as the geopolitical landscape does not stay status quo, the subcommittee will consider whether a revision of the current wording would be relevant and beneficial to the industry. Furthermore, the subcommittee will focus on ensuring that the clauses remain commercially workable and fit today’s needs of the industry. At the following meeting, the subcommittee discussed the war risk insurance aspects, both in terms of cover and the responsible party to pay the premium.
Members of the subcommittee are Natalya Skjelmose (Norden), Anders G. Hovelsrud (DNK), Dirk Janssen (Nordisk), Dorte Nielsen (Centurion Bank), Henning Babiel (ADM), Neil Roberts (Joint War Committee), Nicola Cox (West), Richard Neylon (HFW), Richard Young (Beazley).
Source: BIMCO
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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
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